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Publication Date: 2019-09-04
Practice Area: Corporate Governance
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys: For plaintiff: Elena C. Norman, Benjamin M. Potts, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Louis R. Miller, Daniel S. Mil-ler and Jeffery B. White, Miller Barondess, LLP, Los Angeles, CA for plaintiffs.
for defendant: Kenneth J. Nachbar and Alexandra M. Cumings, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE for defendants.
Case Number: D68693
A release provision in a settlement agreement was not effective to preserve plaintiffs' rights to pursue derivative or direct claims, because they had already sold their shares pursuant to separate repurchase agreements.
Publication Date: 2019-08-07
Practice Area: Contractual Disputes
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: David E. Ross and Eric D. Selden, Ross, Aronstam & Moritz LLP, Wilmington, DE; K. Winn Allen, Kasdin M. Mitchell, Holly R. Trogdon and Rebecca W. Forrestal, Kirkland & Ellis LLP, Washington, DC for plaintiff.
for defendant: Michael A. Pittenger, Jennifer C. Wasson and Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Mary Eaton, Zeh Ekono and Le-Ahn Bui, Wilkie Farr & Gallagher LLP, New York, NY for defendant.
Case Number: D68661
Plaintiff adequately stated its claims for declaratory relief as to an earn-out provision in the parties' contract, and plaintiff was entitled to specific performance of a clause allowing access to books and records.
Publication Date: 2019-07-24
Practice Area: Patent Licensing and Transactions
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Chancellor Bouchard
Attorneys: For plaintiff: Gregory P. Williams and John D. Hendershot, Richards, Layton & Finder, P.A., Wilmington, DE; Zachary G. Newman, Annie P. Kubic, and Steven R. Aquino, Hahn & Hessen LLP, New York, NY for plaintiff.
for defendant: Michael A. Weidinger and Elizabeth Wilburn Joyve, Pinckney, Weidinger, Urban & Joyve LLC, Greenville, DE; Andrew D. Cordo, Ashby & Geddes, P.A., Wilmington, DE; Rachel A. Kerlek, Woods, Weidenmiller, Michetti & Rudnick, LLP, Naples, FL for defendants.
Case Number: D68640
Although having claim against corporation sufficient to confer §174 standing, claim was untimely where the six-year limitations period was a statute of repose not subject to tolling.
Publication Date: 2019-05-29
Practice Area: Consumer Protection | Insurance Law
Industry: Financial Services and Banking | Insurance
Court: U.S. District Court of Delaware
Judge: District Judge Stark
Attorneys: For plaintiff: Thomas J. Francella, Gregory F. Fischer, Michael J. Miller, Charles J. Vinicombe, Barry Golob, Daniel P. Thiel, Lezlie Madden and Kristin Parker, Cozen O'Connor, Wilmington, DE and Philadelphia, PA for plaintiff.
for defendant: David J. Baldwin, Potter Anderson & Corroon LLP, Wilmington, DE; John E. Failla, Nathan Lander and Elise A. Yablonski, Proskauer Rose LLP, New York, NY for defendant.
Case Number: D68578
Genuine issues of material fact precluded summary judgment on defendant's counterclaims for deceptive trade practices and promissory estoppel in this insurance matter.
Publication Date: 2019-05-29
Practice Area: Creditors' and Debtors' Rights
Industry: Financial Services and Banking | Insurance
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Christopher P. Simon and Kevin S. Mann, Cross & Simon, LLC, Wilmington, DE; James J. Black III, Jef-frey B. Miceli and Mark W. Drasnin, Black & Gerngross, P.C., Philadelphia, PA for Delaware Ins. Comm'r as receiver for Indemnity Ins. Co, RRG.
for defendant: David S. Eagle, Sally E. Veghte and Francis M. Correll, Klehr Harrison Harvey Branzburg LLP, Wilming-ton, DE and Philadelphia, PA for intervening third-party plaintiff Branch Banking and Trust Co.
Case Number: D68579
The court granted a bank's motion for summary judgment to exclude a receiver's equitable defenses, because the bank sought only legal relief.
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Authors: Gary L. Brown
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Publication Date: 2019-05-15
Practice Area: Wrongful Death
Industry: Financial Services and Banking | Hospitality and Lodging
Court: Delaware Superior Court
Judge: Judge Cooch
Attorneys: For plaintiff: Gary S. Nitsche, William R. Stewart, III, and Rachel D. Allen, Weik Nitsche & Dougherty, LLC, Wilmington, DE; Joseph J. Rhoades, Rhoades & Morrow, LLC, Wilmington, DE; Martin C. Meltzer, Law Office of Martin C. Meltzer, Wilmington, DE for plaintiffs.
for defendant: Catherine A. Gaul and Aaron P. Sayers, Ashby Geddes, P.A., Wilmington, DE; Mary E. Sherlock and Stephen F. Dryden, Weber Gallagher Simpson Stapleton Fires & Newby, LLP, Wilmington, DE; Elizabeth C. Grabey, McGivney, Kluger & Cook, P.C., Wilmington, DE; Christina M. Belitz, Polsinelli PC, Wilmington, DE; Michael J. Logullo, Rawle & Henderson, LLP, Wilmington, DE; Johan A. Elzufon, Elzufon Austin & Mondell, P.A., Wilmington, DE; Michael I. Silverman, Silverman, McDonald & Friedman, Wilmington, DE for defendants.
Case Number: D68559
Wrongful death claim not dismissed where plaintiffs could impose liability on defendants who conducted assessment of apartment complex's boiler system when the building's owner allegedly relied upon the assessment to not undertake repairs or replacement of the boiler.
Publication Date: 2019-05-08
Practice Area: Contractual Disputes
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Laster
Attorneys: For plaintiff: Brett M. McCartney and Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Shawn M. Kennedy, Modera Legal, Irvine, CA for plaintiff.
for defendant: Eric Lopez Schnabel, Alessandra Glorioso, John Baker and Bryan M. McGarry, Dorsey & Whitney LLP, Wilmington, DE and Costa Mesa, CA for defendant.
Case Number: D68555
A limited liability company agreement contained a forum selection clause naming the courts of another state, so the court granted defendant's motion to dismiss this Delaware proceeding.
Publication Date: 2019-04-10
Practice Area: Banking and Finance Laws | Commercial Law
Industry: Financial Services and Banking
Court: Delaware Superior Court
Judge: Judge Medinilla
Attorneys: For plaintiff: Elwood T. Eveland, Jr., The Eveland Law Firm for appellant.
for defendant: Nicholas T. Verna, Womble Bond Dickinson (US) LLP for appellee.
Case Number: D68519
Trial court erred in dismissing banking violation under UCC without determining whether breach of contract claim could proceed independent of a UCC claim, where the allegations of the contract claim also raised an issue of the bank's compliance with UCC requirements.
Publication Date: 2019-03-27
Practice Area: Insurance Litigation | Trusts and Estates
Industry: Financial Services and Banking | Insurance
Court: U.S. District Court of Delaware
Judge: District Judge Stark
Attorneys: For plaintiff: Thomas J. Francella, Michael J. Miller, Gregory J. Star, Charles J. Vinicombe and Daniel P. Thiel, Cozen O'Connor, Wilmington, DE and Philadelphia, PA for plaintiffs.
for defendant: David J. Baldwin and Ryan C. Cicoski, Potter Anderdon & Corroon LLP, Wilmington, DE ; John E. Fail-la, Nathan Lander and Elise A. Yablonski ,Proskauer Rose LLP, New York, NY for defendant.
Case Number: D68507
A life insurance policy was void because no insurable interest existed. Summary judgment granted in favor of the insurer.
Publication Date: 2019-03-13
Practice Area: Business Torts
Industry: Financial Services and Banking | Energy
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: David E. Ross, Ross, Aronstam & Moritz LLP, Wilmington, DE; Terry L. Wit, A. William Urquhart, Juan P. Morillo, Derek L. Shaffer, and Lauren H. Dickie, Quinn Emanuel Urquhart & Sullivan, LLP, San Francisco, CA and Washingto, DC for plaintiffs.
for defendant: Kevin R. Shannon, Matthew F. Davis, and Christopher N. Kelly, Potter Anderson & Corroon LLP, Wilmington, DE; Gregory G. Ballard and Jose F. Sanchez, Sidley Austin LLP, New York, NY; Todd Schlitz, Drinker Biddle & Reath LLP, Wilmington, DE; Robert A. Scher and Jonathan H. Friedman, Foley & Lardner LLP, New York, NY; Timothy J. Houseal, Jennifer M. Kinkus, and William E. Gamgort, Young Conaway Stargatt & Taylor LLP, Wilmington, DE; Ana C. Reyes, Williams & Connolly, Washington, DC, attorneys for defendants.
Case Number: D68489
Plaintiffs' negligent misrepresentation claim against their debtor's auditing firm dismissed where the court lacked personal jurisdiction over foreign subsidiaries and where there was no privity of contract or special relationship between plaintiffs and auditor or justifiable reliance on alleged misrepresentations.
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